A-B, B-C closings....Critique my method!!

I’m getting started again and finally got everything together. Here’s the nuts and bolts, please tear this apart and provide any constructive criticism on things I may have left out:

  1. Marketing to Lispendens: direct mail, door knocking, etc.

  2. Homeowner calls my simple voicemail box which tells them to leave a message and they’ll be contacted shortly.

  3. Setup appointment with homeowner, bring all my documents which include BOTH:
    a) Options contract
    b) Deed and Power of Attorney

  4. I’ll either have a notary with me to notarize select documents or we’ll go to a notary to get it done.

  5. The buyer on these documents will either be my cousin or his LLC (he is not a real estate agent).

  6. Once documents are collected from homeowner, they’ll be submitted to bank.

  7. The property will then be listed on the MLS by the B-buyer, or in this case my cousin, since he has the deed and POA in his hands (not yet recorded though).

  8. Once bank approves the offer, we’ll arrange to have it closed all cash by my cousin and then resold to the end buyer via the options contract.

  9. Thee end.

What am I missing? What can I do to make it better?

I think the seller should talk to a live answering service that asks a script of questions. I think when they talk to a voice mail a lot of your calls will get dropped.

As far as the notary part there are cab drivers who are notaries. So if I get that far I just call a cab to come to the house and pay $10 for the cab driver to notaries the paperwork at the house. Just something I do, not a must have.

As far as your cousin being involved why wouldn’t you buy the property with your own LLC? You really don’t need him at all. Your still getting the benefits of using an entity.

Great question… I do have an LLC but wouldn’t use it b/c I’m also a license real estate agent, major conflict of interest.

And I agree, I decided to use a live answering service since posting this.
$10 to a cabbie is a great deal, I used to pay $25 for a notary to meet me at the homeowner’s house.